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Free Tax Software to estimate tax

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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nesdog
Posts: 229
Joined: Thu Dec 07, 2017 7:20 pm

Free Tax Software to estimate tax

Post by nesdog »

As we get near the end of the year, I'm trying to figure if our already paid estimated taxes will cover what we owe. I can do back of the napkin calculations, but we are getting close to IRMMA levels and accuracy is a bit more important this time around. (Luckily, interest rates are dropping and we won't have this 'problem' next year!)

What free software can I throw on the computer and fill out for this? Thanks...
Insert clever comment here...
tibbitts
Posts: 25768
Joined: Tue Feb 27, 2007 5:50 pm

Re: Free Tax Software to estimate tax

Post by tibbitts »

nesdog wrote: Tue Oct 01, 2024 10:24 am As we get near the end of the year, I'm trying to figure if our already paid estimated taxes will cover what we owe. I can do back of the napkin calculations, but we are getting close to IRMMA levels and accuracy is a bit more important this time around. (Luckily, interest rates are dropping and we won't have this 'problem' next year!)

What free software can I throw on the computer and fill out for this? Thanks...
The software you used for your taxes last year? Or maybe the online version if you used that.

If I get to within a few thousand dollars of an IRMAA tier (under, obviously), I'm okay with that.
DSBH
Posts: 817
Joined: Tue Jul 21, 2020 3:31 pm
Location: Texas

Re: Free Tax Software to estimate tax

Post by DSBH »

I use this for my 2024 estimated taxes - https://www.dinkytown.net/taxes.html
John C. Bogle: "Never confuse genius with luck and a bull market".
steadyosmosis
Posts: 1670
Joined: Mon Dec 26, 2022 11:45 am

Re: Free Tax Software to estimate tax

Post by steadyosmosis »

If a person can do their taxes at 'tax-time' to figure the tax due, then they can also do it periodically throughout the year.
That's what I do.
Early-retired ... overall portfolio AA 50/50 ... (46% tIRA, 33% RIRA, 16% taxable, 5% HSA) ... (16% SCHB, 16% VTI, 13% SCHF, 5% VITSX, 42% USTreasuries, 8% SGOV).
dcabler
Posts: 5354
Joined: Wed Feb 19, 2014 10:30 am
Location: TX

Re: Free Tax Software to estimate tax

Post by dcabler »

nesdog wrote: Tue Oct 01, 2024 10:24 am As we get near the end of the year, I'm trying to figure if our already paid estimated taxes will cover what we owe. I can do back of the napkin calculations, but we are getting close to IRMMA levels and accuracy is a bit more important this time around. (Luckily, interest rates are dropping and we won't have this 'problem' next year!)

What free software can I throw on the computer and fill out for this? Thanks...
I've been using Personal Finance Toolbox for years.
https://www.bogleheads.org/wiki/Tools_and_calculators

Cheers.
"Repeating a thing doesn't improve it." Quote from Inman, as played by Jude Law, in the movie "Cold Mountain"
Silk McCue
Posts: 9341
Joined: Thu Feb 25, 2016 6:11 pm

Re: Free Tax Software to estimate tax

Post by Silk McCue »

I used this and so have many others here for such a purpose. Very simple to use interface.

https://www.mortgagecalculator.org/calc ... ulator.php

Cheers
startwithtruth
Posts: 202
Joined: Sun Jan 14, 2018 2:35 pm

Re: Free Tax Software to estimate tax

Post by startwithtruth »

If you're comfortable with the tax forms and spreadsheets, you might like the Federal Income Tax Spreadsheet published by Glenn Reeves; I've used these for several years (pretty sure I heard about them here). T

https://sites.google.com/view/incometaxspreadsheet/home
Chuck
Posts: 2515
Joined: Thu May 21, 2009 12:19 pm

Re: Free Tax Software to estimate tax

Post by Chuck »

Another spreadsheet-based option: http://www.taxvisor.com/taxes/index.html
(without knowledge or opinion about which is better)
Topic Author
nesdog
Posts: 229
Joined: Thu Dec 07, 2017 7:20 pm

Re: Free Tax Software to estimate tax

Post by nesdog »

Thanks! Some good resources there to check out.
Insert clever comment here...
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FiveK
Posts: 16826
Joined: Sun Mar 16, 2014 2:43 pm

Re: Free Tax Software to estimate tax

Post by FiveK »

nesdog wrote: Tue Oct 01, 2024 1:10 pm Thanks! Some good resources there to check out.
Tax estimation tools - Bogleheads has some tables to show what several common tools do and don't cover.
Count If
Posts: 70
Joined: Mon Nov 29, 2021 10:24 pm

Re: Free Tax Software to estimate tax

Post by Count If »

AARP has a 1040 Tax calculator that does a good basic job, very straightforward input of your data and from my experience using it does a good job estimating taxes. Has a nice bar chart and summary output.
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